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Acceleration Of Maturity On Default
ACCELERATION OF MATURITY ON DEFAULT
On default, the whole sum of principal and interest shall become due immediately at the option of the holder of this instrument. Default shall include, but not be limited to, the failure of maker to pay any installment of interest or principal when due, filing, as to maker, of a voluntary or involuntary petition under the provisions of the federal Bankruptcy Act, the issuance of any attachment or execution against any asset of the maker, or death of any maker, any endorser, or guarantor, or any deterioration of the financial condition of the maker, any endorser, or guarantor that results in the holder of this instrument deeming itself, in good faith, insecure.
This is a UCC form. It is intended to be an addendum to other forms.